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Mayor: 'Dynamic Chengdu' is ready to host top executives

By Li Yu and Zhuan Ti (China Daily)

16:15, May 31, 2013

Chengdu Mayor Ge Honglin (left) met with Fortune Magazine Managing Editor Andy Serwer (center) and Chinese Ambassador to the US Cui Tiankai last month in Washington DC. (Photos Provided to China Daily)

First in west China to hold noted Fortune Global Forum

Chengdu is ready, just waiting for June 6, the city's Mayor Ge Honglin said in Washington DC late last month as he talked about the 12th Fortune Global Forum set to open in the capital of Sichuan province on June 6.

"It will be spectacular and fruitful," he vowed.

Chengdu will become the first city in western China to host one of the world's most important business gatherings, a meeting of Fortune Global 500 company executives. It will end on June 8.

The mayor added that 238 Fortune 500 companies now have operations in Chengdu, 31 more since April 9 last year when Fortune Magazine selected the city as this year's forum host.

"Chengdu's economic growth has been healthy and fast (since April 9 last year)," Ge said. "It has accelerated its pace in building a global transport system and logistics network."

Ge said the city now has 29 direct international cargo flight routes and a 13-day direct freight train to Europe, all "improving logistics for the Chinese inland".

"Chengdu's authorities have paid great attention to organizing the 2013 Fortune Global Forum. We will do our best to be a great host and offer high-quality services to let entrepreneurs and other participants understand the true Chengdu," he said, adding that the city is "dynamic and promising".

Ge said he hopes for more cooperation with Fortune Magazine, part of Time Warner Inc of the US. In addition to Fortune, it also publishes famed Time magazine.

China's Ambassador to the US Cui Tiankai acknowledged Chengdu's strategic importance in western China, saying the city's infrastructure, education and industry structure all have a leading role in that region.

"Joining hands with Fortune Magazine will make Chengdu a 'fortune city' to offer more investment opportunities for multinational corporations," he said. "I believe the forum will bring the world a better future."

Quality growth

At a time when China's model for economic development is evolving, the fast-rising western China city is known for its commitment to quality growth.

The forum opens at a time when the Chinese leadership is determined to shift from export-oriented commerce to more high-tech, value-added and sustainable growth.

The southwestern metropolis with a population of more than 15 million people is already a key IT and financial hub in China.

Local authorities have also emphasized creation and protection of intellectual property, another important attraction to international companies.

The city is now known as the country's model city for IP creation.

Companies, institutes and individuals in Chengdu filed 48,901 patent applications in 2012, with more than 32,500 of them approved, according to official figures.

A total of the 26,008 patents came from companies, an increase of 48 percent from a year earlier.

The number of invention patent filings rose to 10,886, up 46 percent from 2011.

More than 110,000 trademarks were registered in Chengdu in 2012. It also held an IP Protection Week between April 19 to 26 to further raise awareness across the city.

The significant IP achievements have helped the city enhance its capacity for innovation, which has in turn given a boost to the local economy.

Talent pool

The city's talent pool is another strong attraction for overseas businesses.

"It has a relatively rich talent pool, with 42 universities, colleges and institutes supplying more than 100,000 graduates each year," according to Accenture, a global management consulting, technology services and outsourcing company.

The US-based advisory company sees demand for management consulting rising in western China, it said.

Its 300-strong Chengdu team founded in 2009 offers services on data analytics, sourcing and procurement to both Chinese and international businesses.

"The cost of human capital is low in Chengdu compared to coastal and first-tier cities," the company said.

The city established a 120-million-yuan fund in May for its long-term "Chengdu Elite Plan" to attract top overseas talent. Each of those selected will get 1 million yuan in sponsorship.

It wants to attract about 1,000 high-level entrepreneurs in emerging industries with strategic importance in five to 10 years.

The city attracted 167 high-level professionals in 2012.

Email|Print|Comments(Editor:WangLili、Gao Yinan)

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